UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Long, Dennis R.
4 Greenway Plaza
Houston, Texas 77046
USA
2. Issuer Name and Ticker or Trading Symbol
Transocean Offshore Inc.
RIG
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
December 31, 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock (1) |7/1/97|A |1,800 (2) |A | |1,800 (3) |D | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Executive Stock Options |$36.94 |7/1/9|A |8,000 |A |(4) |6/30/|Common Stock|8,000 | |8,000 |D | |
(1) | |7 | | | | |07 | | | | | | |
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Explanation of Responses:
(1) Shares of common stock, numbers of stock options and sale and exercise
prices thereof shown in this report have been adjusted to reflect the
issuer's two-for-one stock split effected in the form of a 100% stock dividend
paid in September 1997.
(2) Grant of restricted stock under the Transocean Offshore Inc. Long-Term
Incentive Plan. The shares vest as follows: 600 on 7/1/20; 600 on
7/1/01 and 600 on
7/1/02.
(3) Includes shares of unvested restricted stock granted under the Transocean
Offshore Inc. Long-Term Incentive Plan.
(4) Grant of stock options under the Transocean Offshore Inc. Long-Term
Incentive Plan exercisable as follows: 2,666 on 7/1/98; 2,666 on 7/1/99 and
2,668 on
7/1/00.
SIGNATURE OF REPORTING PERSON
/s/ Dennis R. Long by Nicolas J. Evanoff
DATE
February 17, 1998
